Lonrho states African businesses are growing; Royal Jordanian and Kenya Airways down

Analysis

In South Africa, Lonrho's shares (+4.2%) gained again, after the company stated its African businesses are growing. The carrier reported a decline in losses before tax to GBP4.5 million for the 12 months ended 30-Sep-2009, from GBP38.7 million in 2008. Net loss for the year was GBP5.3 million, significantly lower than GBP41.0 million in the previous year.

Meanwhile, in the Middle East, Royal Jordanian Airlines (-0.5%) slipped. The carrier believes 2010 will be a “challenging” year, but it has come a long way since the 1990s, when it spent much of the decade in trouble operationally and financially. In 1999, the carrier commenced a ground-up restructuring. Since then, RJ has undergone one of the most comprehensive and successful turnarounds in the region’s history.

The Centre for Asia Pacific Aviation (CAPA) has launched a unique new strategic business information service covering one of the world’s most exciting emerging aviation markets. Middle East-Africa Airline Daily is an efficient morning briefing on airline developments from both regions. Covering fleets, routes, financials, traffic, bilateral agreements, alliances, financing, ownership, along with analysis of all significant developments, it is your one-stop shop to aviation news from Africa and the Middle East – and best of all it’s free for a limited time. Sign-up today!